Envestnet Asset Management Inc. raised its stake in Standex International Co. (NYSE:SXI – Free Report) by 37.3% in the 3rd quarter, according to its most recent filing with the SEC. The fund owned 80,305 shares of the industrial products company’s stock after purchasing an additional 21,831 shares during the period. Envestnet Asset Management Inc. owned 0.67% of Standex International worth $11,700,000 as of its most recent SEC filing.
Several other hedge funds and other institutional investors also recently modified their holdings of the stock. Envestnet Portfolio Solutions Inc. bought a new stake in shares of Standex International in the 3rd quarter worth about $249,000. Deutsche Bank AG grew its position in shares of Standex International by 18.5% during the 3rd quarter. Deutsche Bank AG now owns 6,560 shares of the industrial products company’s stock valued at $956,000 after buying an additional 1,023 shares during the last quarter. Skandinaviska Enskilda Banken AB publ grew its position in shares of Standex International by 31.1% during the 3rd quarter. Skandinaviska Enskilda Banken AB publ now owns 9,700 shares of the industrial products company’s stock valued at $1,413,000 after buying an additional 2,300 shares during the last quarter. HighTower Advisors LLC grew its position in shares of Standex International by 7.5% during the 3rd quarter. HighTower Advisors LLC now owns 1,673 shares of the industrial products company’s stock valued at $243,000 after buying an additional 116 shares during the last quarter. Finally, Vanguard Personalized Indexing Management LLC bought a new stake in shares of Standex International during the 3rd quarter valued at about $203,000. Institutional investors own 88.80% of the company’s stock.
Insider Transactions at Standex International
In other news, CFO Ademir Sarcevic sold 2,428 shares of the company’s stock in a transaction that occurred on Friday, February 9th. The shares were sold at an average price of $154.31, for a total value of $374,664.68. Following the completion of the sale, the chief financial officer now directly owns 12,071 shares of the company’s stock, valued at approximately $1,862,676.01. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. In related news, CEO David A. Dunbar sold 5,000 shares of the stock in a transaction that occurred on Thursday, February 15th. The shares were sold at an average price of $165.00, for a total transaction of $825,000.00. Following the completion of the sale, the chief executive officer now directly owns 62,233 shares of the company’s stock, valued at $10,268,445. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CFO Ademir Sarcevic sold 2,428 shares of the stock in a transaction that occurred on Friday, February 9th. The shares were sold at an average price of $154.31, for a total transaction of $374,664.68. Following the sale, the chief financial officer now directly owns 12,071 shares of the company’s stock, valued at $1,862,676.01. The disclosure for this sale can be found here. In the last three months, insiders sold 13,183 shares of company stock valued at $2,098,268. Company insiders own 2.28% of the company’s stock.
Wall Street Analysts Forecast Growth
A number of equities research analysts recently weighed in on the stock. Benchmark lowered their price objective on shares of Standex International from $205.00 to $190.00 and set a “buy” rating for the company in a research report on Monday, November 6th. StockNews.com downgraded shares of Standex International from a “strong-buy” rating to a “buy” rating in a research report on Monday, February 5th. Finally, DA Davidson started coverage on shares of Standex International in a research report on Wednesday, December 13th. They issued a “buy” rating and a $165.00 target price for the company. Five research analysts have rated the stock with a buy rating, According to MarketBeat.com, the company has a consensus rating of “Buy” and an average price target of $177.50.
Get Our Latest Report on Standex International
Standex International Price Performance
NYSE SXI opened at $173.00 on Friday. Standex International Co. has a 52 week low of $111.02 and a 52 week high of $173.54. The company has a current ratio of 3.34, a quick ratio of 2.58 and a debt-to-equity ratio of 0.24. The stock has a market cap of $2.05 billion, a price-to-earnings ratio of 14.89, a price-to-earnings-growth ratio of 2.56 and a beta of 1.00. The company has a 50-day moving average price of $154.17 and a two-hundred day moving average price of $148.69.
Standex International (NYSE:SXI – Get Free Report) last posted its earnings results on Friday, February 2nd. The industrial products company reported $1.78 EPS for the quarter, topping the consensus estimate of $1.72 by $0.06. The firm had revenue of $178.40 million during the quarter, compared to analysts’ expectations of $180.25 million. Standex International had a net margin of 18.80% and a return on equity of 13.63%. Standex International’s quarterly revenue was down 5.0% on a year-over-year basis. During the same quarter in the prior year, the firm earned $1.74 EPS. Analysts forecast that Standex International Co. will post 7.28 EPS for the current year.
Standex International Announces Dividend
The business also recently declared a quarterly dividend, which was paid on Monday, February 26th. Stockholders of record on Monday, February 12th were paid a $0.30 dividend. This represents a $1.20 dividend on an annualized basis and a dividend yield of 0.69%. The ex-dividend date of this dividend was Friday, February 9th. Standex International’s dividend payout ratio is currently 10.33%.
Standex International Company Profile
Standex International Corporation, together with subsidiaries, manufactures and sells various products and services for commercial and industrial markets in the United States and internationally. It operates through five segments: Electronics, Engraving, Scientific, Engineering Technologies, and Specialty Solutions.
Further Reading
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